Bitcoin, a predecessor to one world currency?

[bearycool]

Browsing through the media can get very tiring very quickly. However, I did find something that is rather interesting.

The world's fastest-gaining currency has tripled in price again. Last week, SmartMoney reported that the Bitcoin had exploded from an exchange rate near zero to more than $10 in about a year, making it one of the top-returning assets of any kind. On Wednesday the currency topped $30.

If returns like those seem otherworldly, perhaps its because Bitcoin is a world unto itself. To recap, it's is a purely online currency with no intrinsic value; its worth is based solely on the willingness of holders and merchants to accept it in trade. In that respect, it's not so different from fiat currencies like the dollar or Euro, but whereas governments back such money, Bitcoins lack central control.

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My honest opinion is that I'm not sure what this means, if anything at all. However I do believe it's entitle to one thing. We're getting closer to something. Looking over the bitcoin, I believe it's not going to be anything but a predecessor at best. The truth is this currency goes up and down way too much, but it shows that currency can be harnessed into forms that are digital.
In the end, we must wait and watch, and pray to God that we will be safe from whatever may happen.

[mattfivefour]

Bitcoin is a currency invented by a Japanese computer programmer. It is a virtual currency that has no intrinsic value. Those who get in early stand to make profits as later people buy in. So it is actually a sophisticated Ponzi scheme. I know supporters of Bitcoin deny that ... but then so do people in ANY Ponzi scheme. Enough said.